MCQOPTIONS
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MCQOPTIONS
This section includes 68 Mcqs, each offering curated multiple-choice questions to sharpen your Bachelor of Commerce (B Com) knowledge and support exam preparation. Choose a topic below to get started.
| 51. |
. Is defined on the guidance and regulation by executive action of cost operating and under taking |
| A. | Cost reduction |
| B. | Cost control |
| C. | Cost estimation |
| D. | none |
| Answer» B. Cost control | |
| 52. |
__________ defines when the work is ready for or is being used for the purpose intended and is so certified. |
| A. | Final completion |
| B. | Substantial completion |
| C. | Final acceptance |
| D. | Mechanical completion |
| Answer» C. Final acceptance | |
| 53. |
__________ is a request for interim stoppage of work due to non conformance, funding or technical considerations. |
| A. | Bid protest |
| B. | Stop work order |
| C. | Notice to proceed |
| D. | Supplier default notice |
| Answer» C. Notice to proceed | |
| 54. |
Fixed price and incentive type contracts place responsibility for performance and financial risks associated with delay or non-performance on the: |
| A. | Contractor |
| B. | Owner |
| C. | Lending institution |
| D. | Project manager |
| Answer» B. Owner | |
| 55. |
The term ..is defined as a system that ensures the provision of the required quantity of material of the required quality at the required time with the minimum amount of capital. |
| A. | Material Control |
| B. | Labour Control |
| C. | Marketing Control |
| D. | none |
| Answer» B. Labour Control | |
| 56. |
.is a buffer stock level or safety stock level under which the stock should not be allowed to fall. |
| A. | Average stock level |
| B. | Maximum stock level |
| C. | Minimum stock level |
| D. | none |
| Answer» D. none | |
| 57. |
The expenses which can be identified with and allocated to cost centers and cost units are termed as .. |
| A. | Direct material |
| B. | Direct labour |
| C. | Direct expenses |
| D. | none |
| Answer» D. none | |
| 58. |
After receiving the ..the Purchase department starts exploring the source of materials and suppliers. |
| A. | Purchase Requisition |
| B. | Purchase Data |
| C. | Sales Information |
| D. | Process Of Purchase |
| Answer» B. Purchase Data | |
| 59. |
Effective purchase control prevents wastage and losses of material right from the purchase from their . |
| A. | Consumption |
| B. | Wastage |
| C. | Storage |
| D. | none |
| Answer» B. Wastage | |
| 60. |
The organisation of the purchase department depends on the ..of the organisation and its likely quantum of purchase. |
| A. | Size |
| B. | Number of managers |
| C. | Number of workers |
| D. | none |
| Answer» B. Number of managers | |
| 61. |
Purchase of material a substantial of the company s finance is committed which affects position of the company. |
| A. | Cash flow |
| B. | Fund Flow |
| C. | Balance Sheet |
| D. | none |
| Answer» B. Fund Flow | |
| 62. |
The process that may be used by an unsuccessful supplier to seek remedy for a non award of work is: |
| A. | Bid protest |
| B. | Stop work order |
| C. | Back charge |
| D. | Contract dispute |
| Answer» B. Stop work order | |
| 63. |
The cost of corrective action taken by the purchaser and chargeable to the supplier under the terms of the contract is: |
| A. | Payment authorization |
| B. | Bid cost considerations |
| C. | Release payment |
| D. | Back charge |
| Answer» E. | |
| 64. |
Under method of pricing issues, issues are valued at a price calculated by dividing the total cost of material in the stock by the total quantity of material in stock. |
| A. | Simple average |
| B. | Weighted average |
| C. | Last in First out |
| D. | none |
| Answer» C. Last in First out | |
| 65. |
Purchase manager must know the exact .of materials which are used in the production. |
| A. | Specification |
| B. | Procedure |
| C. | Strategy |
| D. | modification |
| Answer» B. Procedure | |
| 66. |
Purchasing department should purchase the material strictly as per .of the various department. |
| A. | requisition |
| B. | Bill book |
| C. | Balance Sheet |
| D. | Trading Account |
| Answer» B. Bill book | |
| 67. |
The Purchase .is a contractual document which authorizes the supplier to supply the material. |
| A. | Note |
| B. | Requisition |
| C. | Order |
| D. | none |
| Answer» D. none | |
| 68. |
When job is very big and spread over long periods of time the method of costing adopted is |
| A. | Process |
| B. | Job |
| C. | Contract |
| D. | Operation |
| Answer» D. Operation | |